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Finance, Investing, Stocks

Robust Growth Projected for Atkore Inc. (NYSE:ATKR) in Q3 2024 After Strong Q2 Earnings Call – Find Out How They Plan to Achieve $875 Million in Adjusted EBITDA

BY
Carl Nightbridge

Chicago, Illinois – Atkore Inc. (NYSE:ATKR) recently held its Q2 2024 Earnings Conference Call on May 7, 2024, with company ...

Finance, Investing, Stocks

Breaking: Cobalt Miners Achieve Record Production in April 2024 – What You Need to Know!

BY
Carl Nightbridge

Toronto, Canada – Cobalt miners in the month of April 2024 have been met with both challenges and opportunities in ...

Business and Technology

Paramount CEO, Bob Bakish, Forecasts Profitability for Paramount+ in 2025 – Find Out How He Plans to Achieve It!

BY
Carl Nightbridge

Los Angeles, CA – Paramount Global CEO Bob Bakish announced a significant milestone for the company as Paramount+ hit a ...

Finance, Investing, Stocks

Marissa Bych – Gilmartin Group, Investor Relations Great. Thank you, and good afternoon. By now, you should have received a copy of the earnings press release. If you have not received a copy, please call 513-644-4484 to have one e-mail to you. Before we begin, let me remind you that the company’s remarks include forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond AtriCure’s control, including risks and uncertainties described from time to time in AtriCure’s SEC filings. These statements include, but are not limited to, financial expectations and guidance, expectations regarding the potential market opportunity for AtriCure’s franchises and growth initiatives, future product approvals, clearances, reimbursement and clinical trial outcomes. AtriCure’s results may differ materially from those projected. AtriCure undertakes no obligation to publicly update any forward-looking statements. Additionally, we refer to non-GAAP financial measures, specifically revenue reported on a constant currency basis, adjusted EBITDA and adjusted loss per share. A reconciliation of these non-GAAP financial measures with the most directly comparable GAAP measures is included in our press release, which is available on our website. And with that, I would like to turn the call over to Mike Carrel, President and CEO. Good afternoon, and thank you for joining us today. 2023 was an exceptional year at AtriCure, and I am proud to report a strong finish with fourth quarter growth of 21%, showing robust momentum throughout our entire business. Our full year revenue of $399 million represents 21% over 2022, our third consecutive year of above 20% revenue growth, and globally, we saw increasing adoption of our broad portfolio of products for the treatment of atrial fibrillation, the left atrial appendage, and postoperative pain. Our patient impact extended further than before, resulting in the achievement of our one millionth patient treated with AtriCare technology. In addition, our top line performance and increasing leverage drove $19 million of positive adjusted EBITDA in 2023, making significant progress towards sustained profitability throughout our business. Before sharing operational highlights of the fourth quarter of 2023, I would like to frame the opportunity in front of AtriCare now. We identify markets where patients are underserved and create standards-of-care to improve these patients’ lives. We know that creating new standards-of-care requires sustained investment in innovation, clinical science, and comprehensive education and awareness. Investing across these areas has allowed us to unlock new opportunities over the last two decades, and we are now positioned to offer solutions for millions of patients worldwide. This translates to a more than $5 billion global market opportunity today, with significant potential to expand our market opportunity in the future. AtriCare is in a unique position as a leader in each of our markets, with every market still significantly underpenetrated. Therefore, we remain focused on driving adoption, as well as identifying and cultivating new opportunities to drive strong growth for many years to come. As such, we are reiterating our expectations for full year 2024 revenue of $459 million to $466 million, reflecting 15% to 17% growth over 2023. We are also reaffirming our expectations to achieve adjusted EBITDA of $26 million to $29 million for the full year, with improvements annually thereafter as we progress towards positive cash flow. Now shifting to highlights of the quarter and 2023. Starting with the open ablation franchise, where our ablation solutions for the treatment of Afib are used concomitant to open heart surgery. In the fourth quarter, we surpassed 10,000 patients treated with our EnCompass clamp and achieved the best quarter yet for EnCompass clamp sales, which accounted for nearly half of our U.S. open ablation revenue for the quarter. The uptake of this product has been extraordinary since the BoD commercial launch in early 2022. At the recent Society of Thoracic Surgeons Conference, I heard from many surgeons about the impact this device is having on patients, expanding our reach throughout cardiac surgery procedures. Globally, our open ablation franchise achieved 21% annual growth in 2023, showing a continued elevation over historical growth rates in this franchise. As we begin 2024, we are confident in the increasing adoption of the EnCompass clamp in the United States and look forward to the European launch later in the year and other markets in the future. Next, turning to appendage management. AtriClip products for left atrial appendage closure in both open heart and minimally invasive procedures remaina foundation of our business. In many markets around the world, AtriClip devices are leading our growth as left atrial appendage management becomes the standard-of-care in cardiac surgery. We are excited to have seen the STS, AHA, and ACC all elevate surgical LA

BY
Carl Nightbridge

AtriCure, Inc., based in Mason, Ohio, reported impressive financial results for the fourth quarter and full year of 2023, showcasing ...

Finance, Investing, Stocks

Transocean Takes Bold Steps to Improve Liquidity and Achieve Potential Profitability

BY
Carl Nightbridge

Houston, Texas – Transocean, a leading offshore drilling contractor, has been focused on improving its liquidity, deleveraging, and potential profitability ...

Breaking News

Incredible 49ers Comeback Secures a Spot in Super Bowl 58! After an embarassing first half, the 49ers overcome the odds to achieve a monumental victory!

BY
Carl Nightbridge

SANTA CLARA, Calif. – Tension and determination filled the air as the San Francisco 49ers faced a daunting 24-7 halftime ...

Finance, Investing, Stocks

Alcoa Corporation Q4 2023 Earnings Call Demonstrates Significant Progress: Expected Cash Exhaustion and Immediate Need for Solutions The Q4 2023 earnings call for Alcoa Corporation revealed extensive discussions on the near-term focus areas, emphasizing significant progress in key objectives, financial results, and market implications. Above all, this event highlighted a clear risk of imminent cash exhaustion and the pressing need for a viable plan for the company’s San Ciprian operations. The overall Q4 2023 earnings presentation and responses to analysts’ inquiries outlined the challenges Alcoa faces and the strategic measures being implemented to address the financial and operational issues. Amid discussions about reducing operating costs and optimizing production capacity, the conference also stressed the importance of securing approvals for continued operation in Western Australia as well as initiating discussions about the necessary long-term solutions for the complex situation in Spain. Moreover, the potential implications of the in-depth discussions included an emphasis on the optimization of Warrick and Massena operations and the significance of accelerating mine rehabilitation efforts. Amid these priorities, a clear picture emerged regarding the company’s pursuit of low carbon solutions and sustainability compliance, including the relative investment in ELYSIS-driven R&D technologies and portfolio actions. The company is also reinvigorating discussions about potential asset closures, revenue planning, and prospects for improvements in the aluminum and alumina segments. In summary, the Q4 2023 Earnings Presentation underscored the critical need for impending operational and financial changes to address the expected shortfall of funding reserves in certain operations. The company appears determined to navigate these challenges in an effort to achieve financial

BY
Carl Nightbridge

PITTSBURGH, Pennsylvania – Alcoa Corporation provided a comprehensive overview of its recent earnings conference call. The company’s President and CEO, ...

Breaking News

Texans Achieve First Playoff Berth Since 2019 After Dramatic Win Against Colts – Rookie Quarterback Shines in Victory

BY
Carl Nightbridge

Houston, Texas – The Texans secured their first playoff berth since 2019 with a hard-fought 23-19 win against the Indianapolis ...

Breaking News

“Netanyahu” Continues War with Gaza, Vowing to Destroy Hamas and Achieve Peace – Read More!

BY
Carl Nightbridge

JERUSALEM, ISRAEL – In recent news, Israeli Prime Minister Benjamin Netanyahu has declared a firm stance against Hamas, emphasizing that ...

Breaking News

Embiid plays through ankle injury to achieve historic 30-10 streak – see how he did it!

BY
Carl Nightbridge

PHILADELPHIA (AP) — Joel Embiid powered through an ankle injury to extend his 30-10 streak to 13 games, scoring 31 ...

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